News / National
Zimbabwe working towards de-dollarisation
05 Jul 2024 at 05:58hrs | Views
Zimbabwe is on a phased trajectory towards de-dollarisation, as President Mnangagwa emphasized that relying on other countries' currencies, particularly those with negative views towards Zimbabwe, is unsustainable. The introduction of the Zimbabwe Gold (ZiG) currency earlier this year marks a crucial step towards economic development and stability. President Mnangagwa assured that once the ZiG currency is stable and widespread, he will fully implement de-dollarisation. He stressed the importance of Zimbabweans' confidence in their local currency, highlighting the impracticality of depending on the US dollar given America's stance towards Zimbabwe.
Addressing a gathering at the commissioning of a fruit juice and water processing plant, President Mnangagwa underscored the potential achievements when Zimbabweans unite. The plant, which can produce 16,000 liters of fruit juice daily from locally abundant fruits, showcases the country's capability for self-sufficiency. The President noted that such initiatives align with Zimbabwe's nation-building philosophy and are a testament to the country's progress. He also mentioned that regional leaders at the upcoming SADC Summit would sample these locally produced juices, reflecting Zimbabwe's growing self-reliance.
The President emphasized that Zimbabwe must promote its local products over imported brands, particularly during events like the SADC Industrialisation Week. This event, themed "Promoting Innovation to Unlock Opportunities for Sustainable Economic Growth and Development Towards an Industrialised SADC," will provide a platform to highlight Zimbabwe's advancements under the Heritage Based Education 5.0 philosophy. This philosophy, supported by innovation hubs and industrial parks, is central to the country's modernization and industrialization efforts. The establishment of the National Venture Capital Company further underscores the government's commitment to fostering innovation and economic transformation.
In addition, President Mnangagwa called for continued collaboration between higher education institutions and the private sector to enhance production and market penetration of local products. He cited successful rural industrialization projects, such as the Masawu factory in Muzarabani and the Marula factory in Mwenezi, which have provided revenue and employment for local communities. Vice President Constantino Chiwenga and other officials echoed the President's sentiments, highlighting the government's dedication to leveraging Zimbabwe's natural resources for industrial development and economic empowerment.
Addressing a gathering at the commissioning of a fruit juice and water processing plant, President Mnangagwa underscored the potential achievements when Zimbabweans unite. The plant, which can produce 16,000 liters of fruit juice daily from locally abundant fruits, showcases the country's capability for self-sufficiency. The President noted that such initiatives align with Zimbabwe's nation-building philosophy and are a testament to the country's progress. He also mentioned that regional leaders at the upcoming SADC Summit would sample these locally produced juices, reflecting Zimbabwe's growing self-reliance.
The President emphasized that Zimbabwe must promote its local products over imported brands, particularly during events like the SADC Industrialisation Week. This event, themed "Promoting Innovation to Unlock Opportunities for Sustainable Economic Growth and Development Towards an Industrialised SADC," will provide a platform to highlight Zimbabwe's advancements under the Heritage Based Education 5.0 philosophy. This philosophy, supported by innovation hubs and industrial parks, is central to the country's modernization and industrialization efforts. The establishment of the National Venture Capital Company further underscores the government's commitment to fostering innovation and economic transformation.
In addition, President Mnangagwa called for continued collaboration between higher education institutions and the private sector to enhance production and market penetration of local products. He cited successful rural industrialization projects, such as the Masawu factory in Muzarabani and the Marula factory in Mwenezi, which have provided revenue and employment for local communities. Vice President Constantino Chiwenga and other officials echoed the President's sentiments, highlighting the government's dedication to leveraging Zimbabwe's natural resources for industrial development and economic empowerment.
Source - The Herald
